The price bounces from the support zone and it gives us a new buy opportunity. RSI confirms price reversal. MCAD histogram supports upward movement. Entry level can be above 18000.00 level with stop orders below the support at 17050.00 level. Profit targets should be at 20000.00 and 21000.00 levels. Will it be a profitable signal? I don't know, may be there will be several false reversals before getting good buy signal with good price movement. But we have to use any retracement in order to catch a new upward wave on time. For protecting deposits, we have to use stop orders and proper risk management.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!